Where the issue further shares?

U.S. stocks in recent days pushing its five-year record, the Czech PX index holds above 1000 points and near highs since March 2009, and shares in Europe (Stoxx Europe 600 index). While earnings season sounds mixed (mostly firms outperform market expectations, but they are set very low), but investors feel comfortable in markets through the displacement of the debate on the debt ceiling in the U.S. and the improving situation on the European bond markets. What direction predicted by Czech equity investment professionals?

Milan Vanicek

Senior Analyst, J & T Banka

I believe that optimism in the equity markets will persist for some time, until the next risk event, which may be at the end of February the negotiations on the expenditure side of the fiscal cliff in the USA.

Not yet on the market stronger impulse that would alleviate the inflow into equity funds, or general inflow of liquidity into the system.

Ales Jandejsek

Broker, brokerjet MS

The present situation, when stock markets maintain their local maxima, attributed the ongoing earnings season, the loose monetary policy of central banks and the large number of free resources that flow into riskier financial instruments.

Overbought shares and outstanding problems in the U.S. economy could lead to a short technical correction from current levels. During the year, we expect further growth in equity markets and Match highs of U.S. and European indices.

Michael Lojínová

Broker, Cyrrus

I expect that the stock will continue grow up one to two months, until the end of earnings season and explains the process of the United States on the debt ceiling.